The Tana Beles Sugar Factory in Amhara Regional State edges closer to restarting operations following the completion of a second feasibility study by the Industrial Projects Services(IPS). It is one of the largest sugar projects nationwide that faced nationwide closure due to mounting security issues and operational setbacks. IPS is conducting feasibility studies on three other sugar factories to identify funding shortages, climate issues, and contractor disputes that could have led to their closure. Shewaferaw Solomon, IPS's general manager, submitted the feasibility report to Abebe Yhine, the factory's executive director, at its headquarters on Haile Gebreselassie St. Despite sugar production's history tracing back nearly 100 years, adequate supply has been largely out of reach. Recent efforts to address these difficulties have included privatising eight sugar factories. The Ethiopian Sugar Industry Group, formed in April 2022 with a capital of 115 billion Br and comprising five sugar estates and eight factories under construction, has offered five of its estates to international buyers. Ethiopian Investment Holding (EIH) is engaged in renegotiations with interested bidders that were deterred due to issues related to security concerns and access to foreign currency.
Loading your updates...